|
|
Like this article? PLEASE +1 it! |
|
The Call to Leadership
Written by: Marian BankerArticle Overview: As a coach working with small business owners for over a decade I've seen the difference it makes when entrepreneurs consciously choose to function as leader and learn to apply the fundamentals of good business practice. Learn them here.
![]() |
Free Download - Two Steps to a Winning Strategy By Marian Banker |
The Call to Leadership
If you're feeling concerned about your ability to reach your goals, you're not alone. The problem I see far too often is the business owner who feels overwhelmed because things are happening too fast and there's not enough time to follow through. Or at the opposite end, sales have dropped off drastically and all attempts to turn things around have failed.
What can be done to bring these challenges into perspective and gain control? The answer is: think like a leader.
Business Leadership NOW is the cry across the nation for businesses both large and small. As a business owner, by default, you are the leader of your business. You can either ignore the impact of the role and bear the consequences or grab the reins and choose your destiny.
As a coach working with small business owners for over a decade I've seen the difference it makes when entrepreneurs consciously choose to function as leader and learn to apply the fundamentals of good business practice.
I base my work on what I call the Prime Strategies. These are the strategies that lead to a strong and profitable business in any economic environment. These are also the strategies that allow the entrepreneur to gain a sense of control over business results.
There are six strategies I consider critical to be understood and applied on a consistent basis.
Clarify Vision and Mission
Develop Goals
Create a Strategy to Achieve your Goals
Write a Plan to Fulfill your Strategy
Take Action on your Plan
Monitor Results
I think of these as a cycle, starting with the most abstract -- your business vision and mission. The next step toward realizing the vision is to carry out your mission using a strategy with goals as interim targets that can be quantified. Your plan identifies the specific actions that will carry out your strategy and should include the costs to do so. An important part of the planning process is to identify what expenses must be incurred in order to create the results you want.
Of course, the most important part is the action - actually taking those specific sequential steps that you've committed to your calendar. Once you've acted, the most tangible part of the process, your financial statements, will tell you whether or not your plan worked. It's important to review and analyze this information so you're in a position to make better, more informed business decisions. Repeated on a periodic basis, this cycle will lead to realization of your vision.
Learning how to apply these strategies isn't second nature to most small business owners, but the knowledge and skill can be transferred easily to those who are open to new ideas and ready to learn. It's time to call upon the expertise and perspective of others.
Being an entrepreneur can be a lonely lot. The ultimate decision and responsibility always falls to us. Bad decisions can be very costly, but making no decision can be just as costly.
By nature we feel we know what to do and can do it all ourselves. That's a hurdle that all entrepreneurs must overcome in order to grow, thrive and prosper. We tend to hold on to jobs that would better and more cost effectively be completed by someone else. Once we identify our strengths and our limitations and give ourselves permission to get help, we can reach out to others when our needs are outside our core expertise.
Here are some of the ways to expand your capabilities and your horizons.
- Outsource and Contract for Services
It's possible to build a sizable business using only outsourced and contract services. Contracting for expertise or services is a way many small businesses are growing without having to make huge capital commitments.
- Create an Advisory Board
I recommend either a formal or informal Advisory Board of trusted colleagues who can give you valuable perspective from different vantage points. Your payment to them is their opportunity to gain from the interaction with you and the other experts on your Board.
- Become an Expert in your Network
Most of us underutilize our network. I know from personal experience that I was slow to activate my network. Since doing so, however, I'm seeing a renewed interest in my work. I've become clearer about the expertise I offer and am taking active steps to make it available to my network.
- Poll your Market
Your customers, prospects and even your competitors can be a great source of valuable information and a reference for distinguishing yourself in your market. Ask them and listen to the answer.
- Tap your Inner Circle
Not everyone can benefit from working with a coach, even though I'm partial to that method, of course. I rarely meet an entrepreneur who has used a business coach who doesn't highly value their accomplishments with their coach. Building your own small business development group might be the perfect choice for you, however. The most important thing is that you create a core inner circle on whom you can rely for truthful and constructive feedback.
What the economy needs now are small business leaders; those who are building strong and profitable businesses for themselves while contributing to the economic well-being of the 21st Century.
According to Jim Blasingame, well-known radio show host and publisher of The Small Business Advocate, "the 21st Century is the Century of the Entrepreneur."
Are you armed with what you need to lead your business to success and profit? Where will you be this time next year? If you're feeling unsure, get the help you need NOW and assure your place in the Century of the Entrepreneur.
Article Tags: attempts, business leadership, business owner, business practice, business results, business vision, challenges, consequences, consistent basis, decade, destiny, economic environment, entrepreneur, gain control, good business, interim targets, perspective, profitable business, reins, small business owners
|
About the Author: Marian Banker RSS for Marian's articles - Visit Marian's website A coach with passion for her work and her clients' success, Marian will inspire and challenge you to find and stay on your right path. She is a seasoned executive, entrepreneur and professional and shares that expertise with her clients. You can count on her as a partner and guide to accelerate the achievement of your goals. Marian is co-producer and host of the annual Small Business Summit 2006-2009, an all-day conference that brings together small business owners and technology providers. She is creator of the "Business Success System", a step-by-step process with tools, text and a virtual classroom atmosphere. Since 1995, has coached Entrepreneurs, Professionals and Executives in transition to become business leaders. Emphasis is on what it takes to lead a business to success. Holds a Masters in Business Administration and has over 25 years experience as senior executive, consultant, entrepreneur, educator, mentor and coach. Founded Prime Strategies in 1996 to provide the small business community with coaching, consulting and training in business leadership, translated into plain English for the typical small business owner. Click here to visit Marian's website Warning Signs Checklist Partner Questionnaire |
Related Forum Posts
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Why Use an Advertising Agency
Coaching - An Effective Tool for Managers
Five Daily Marketing Habits to Increase Sales
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.



